Examlex
You are a teacher in a Head Start classroom and you are taking a health history from a family whose mother reports that they drink well water.Which of the following would you advise for them?
Inflation
The rate at which the general level of prices for goods and services rises, eroding purchasing power.
Deflation
A decrease in the general price level of goods and services, often resulting in increased purchasing power of the currency.
Full Employment
An economic situation where all available labor resources are being used efficiently and there is no cyclical unemployment, implying a low, stable rate of unemployment.
Aggregate Supply
The aggregate output of goods and services generated inside an economy, measured at a specific price level over a designated time frame.
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